Balance of payments data for the period of March 2020 was announced by the Central Bank of the Republic of Turkey (CBRT).
Accordingly, the current account, which had a deficit of 120 million dollars in March last year, had a deficit of 4 billion 923 million dollars in the same period this year. As a result, the 12-month current account surplus decreased to 1 billion 463 million dollars.
In this development, the foreign trade deficit in the balance of payments table increased by 3 billion 551 million dollars and reached 4 billion 289 million dollars, net inflows from the services balance decreased by 918 million dollars to 735 million dollars, and the secondary income balance item, which had a net inflow of 131 million dollars in March last year, The net outflow of 197 million dollars in March this year was effective.
The current account, excluding gold and energy, had a deficit of 1 billion 160 million dollars in March. The account in question had a surplus of 3 billion 930 million dollars in March last year.
In the same period, net revenues from the travel item under the services balance decreased by 529 million dollars to 514 million dollars. Under the primary income balance item, net outflows from the investment income item decreased by 9 million dollars in March compared to the same month of the previous year, reaching 1 billion 49 million dollars.
Economists participating in the survey conducted by AA Finance expected the current account balance to have a deficit of 3.6 billion dollars in March and 8.2 billion dollars at the end of 2020. While the current account balance had a deficit of 1 billion 230 million dollars in February, the 12-month current account surplus was 6 billion 128 million dollars.
Net inflow of $796 million from direct investments in March
Net inflows from direct investments decreased by 14 million dollars in March compared to the same month of the previous year, reaching 796 million dollars. During this period, portfolio investments recorded a net outflow of 5 billion 498 million dollars.
When examined by sub-items, it was seen that non-residents made net sales of 1 billion 63 million dollars in the stock market and 2 billion 118 million dollars in the government domestic debt securities market in March. Other sectors made net repayments of 81 million dollars in March regarding bond issues abroad.
Under other investments, the effective and deposit assets of domestic banks in their foreign correspondents decreased by 644 million dollars and the domestic deposits of foreign banks decreased by 2 billion 565 million dollars in March.
During this period, banks made a net repayment of 460 million dollars, the general government made a net repayment of 109 million dollars, and other sectors made a net repayment of 3 million dollars regarding loans provided from abroad.
A net decrease of 16 billion 589 million dollars was observed in official reserves in March.
Source: https://www.aa.com.tr/tr/ekonomi/12-aylik-cari-fazla-1-milyar-463-milyon-dolar-oldu/1838947
